Which of the following statements about the balanced scorecard approach is true?
A) It helps management focus on only nonfinancial measures of performance.
B) It helps management focus on critical success factors which may be financial and nonfinancial in nature.
C) It helps management ignore short-term operating performance in favor of long-term operating performance.
D) It helps management focus on only financial measures of performance.

Question

Quizplus · Accepted Answer

The balanced scorecard approach helps management focus on critical success factors, which may be financial and nonfinancial in nature. It does not ignore short-term operating performance, but rather considers both short-term and long-term performance. It does not focus solely on financial measures, but rather takes a balanced approach that includes both financial and nonfinancial measures.

Which of the Following Statements About the Balanced Scorecard Approach